Did the Euro countries store or destroy pre-Euro coins

[PolishPunisher]

With the potential collapse of the Euro, I was wondering if Germany, France, Italy, etc. are storing the pre-Euro national coins or if they were destroyed.

[AGgressive Metal]

Most were melted down. If you look at the last 100 years of Europe, most countries have had many different types of coins, unlike the US. They are used to getting new coins every 20-30 years. When you think about it, the seniorage is really only captured by the government at the time of issuance/initial spending, so there is not a great deal of motivation to save coins.

HOWEVER, Bob Chapman claims Greece and Germany are making preparations to print their national paper money again. This is not confirmed by any other source that I know of, but Bob Chapman has a fairly good track record so I'm watching with interest.

[PolishPunisher]

I was thinking that if the Euro failed and Greece or Germany or whoever could just sell the former national coins out of storage for high seniorage and the coins would be available immediately. It's mostly a selfish interest as I have over 1,300 DM and don't want to see the value go to 0.

[AGgressive Metal]

Same here, I have almost the same amount as you and I need to get started liquidating them!

[Robarons]

I heard the France sold most of its .999 Nickel Coins (1/2,1,2 Franc Coins) to China

[theo]

Is there any chance that when/if the Euro collapses some of the pre-euro coins could be re-valued in order to save their respective governments the cost of mintage? I have a couple hundred francs, four hundred pesetas and about 5000 lire. Should I hold on to these coins for their potential monetary value or simply value them according to melt?

[Lemon Thrower]

Jim Willie says not only Greece but Germany also. JW even names the printer.

[AGgressive Metal]

Jim Willie says not only Greece but Germany also. JW even names the printer.

Jim Willie and Bob Chapman both saying this now? I'd say it is a strong possibility then, unless they are both being fed by the same disinformation agent.

[PolishPunisher]

I personally think those of us with German Marks will be fine. The mark might even appreciate without all of the other countries dragging them down.

[AGgressive Metal]

I personally think those of us with German Marks will be fine. The mark might even appreciate without all of the other countries dragging them down.

I tend to agree, but Germany is a huge exporter and won't want the Mark to get too valuable too fast.